DBS Bank revises interest rates on FD, offers up to 7.75% on a tenor of 600 days

DBS Bank FD Rates

On FDs maturing in 7 days, the bank offers an interest rate of 2.50% and on those maturing in 8 days & up to 60 days, DBS Bank offers an interest rate of 2.75%. DBS Bank is now offering an interest rate of 3.00% on FDs maturing in 61 days & up to 180 days and an interest rate of 4.75% on those maturing in 181 days to less than 1 year. Deposits maturing in 1 year to 375 days will now fetch an interest rate of 6.25% and those maturing in 376 days to 599 days will now fetch an interest rate of 6.50%. On FDs maturing in 600 days, the bank will now offer an interest rate of 7.25% and on those maturing in 601 days to 5 years and above, DBS Bank is now promising an interest rate of 6.50%.

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Residents who are senior citizens would enjoy an additional rate of 50 bps on FD registrations up to INR 2 Cr. “W.e.f 3rd September 2021, Preferential rate of 50 bps will be provided to Resident senior citizens on FD bookings < INR 2 Cr,” DBS Bank mentioned on its website. The senior citizen special rate is only available on domestic term deposits. The senior citizen rate is not available for NRO and NRE term deposits and for tenures of 181 days or more, the special rate will be in effect. “The interest on your Fixed Deposit is credited to your account on maturity or withdrawal. However, if you withdraw prematurely, you will get the prevailing interest rate,” mentioned DBS Bank on its website.